The 2011 Irish Budget refers to the delivery of a government budget by the Government of Ireland on 7 December 2010. It was also the fourth and final overall budget to be delivered by Fianna Fáil's Brian LenihanasMinister for Finance. The budget for 2011 occurred in the context of a major recession, which followed the Irish financial crisis.[1] The budget was described as the most draconian budget in the history of the State, with €6bn worth of savings.[2][3]
This is a list of the main points contained in the 2011 Budget.[4]
No reduction in state pension.
€10 reduction in Child Benefit rates.
€8 cut for social welfare, jobseekers payments.
4c on petrol, 2c on diesel from midnight.
Revised air travel tax of €3 from March 2011.
€40 payment for fuel allowance recipients.
New minimum wage not in tax net.
Public service pay will not be cut
Public sector salary capped at €250k
Public service pensions over €12k cut 4%
Taoiseach salary cut by €14k; ministers by €10k
Next President's salary to be capped at €250,000
Employee PRSI/health levy pension relief gone
Income/health levies to be replaced by single universal social charge. Rates on the charge will be 0% below €4,004 a year, 2% up to €10,036, 4% from €10,036 to €16,016 and 7% above this level
Pension contributions subject to PRSI and Universal Social Charge
Employee PRSI contribution ceiling removed
Increase in the PRSI rate for the self-employed, higher earning public servants and office holders
1% tax on residential transactions up to €1m; 2% over €1m
All stamp duty exemptions abolished
Car scrappage extended for six months
No change to Ireland's corporation rate
Value of tax bands and credits to be reduced by 10%
DIRT increased by 2%
Online betting will be subject to the same betting duty as in bookie shops
Carer's Allowance for those under 66 to be cut by €8 to €212 a week
Disability Allowance being cut by €8 to €186 a week
Business Expansion Scheme to be revamped
15,000 activation places for unemployed
Third-level student charges are to rise by €500 to €2000
